Why Product Analysis Examples Are Useful
Looking into real-life examples of product analysis practices is probably the second best thing you could do.
The first one is obviously engaging with product analytics yourself in the first place.
Have you ever wondered why?
See, when you get insights into other companies’ procedures and achievements, you can gain a lot.
This includes:
💪 identifying market trends
Thanks to seeing how other companies tackle product analysis, you can easily spot trends and patterns.
Those are invaluable in making informed decisions about your product development and its marketing.
💪 evaluating & improving product performance
This is another beneficial opportunity. Learning from real-life cases will help you understand what works and what doesn't.
As a result, you’ll be making better decisions about product design, marketing, pricing and other things.
💪 generating new ideas
Finally, nothing gives you as much brainstorming power as actual, numbers-proven examples.
Taking a glance at practical instances can enable you to generate new ideas for product development that build on existing concepts or fill gaps in the market.
Sounds exciting?
Finding Product Analysis Examples
If you answered “yes” to the question we’ve just asked, keep on reading.
Let us show you where you can find all these examples that can benefit you so much:
Company blogs
Many companies publish case studies or articles on their blogs or other companies’ blogs that provide insights into their product analytics processes.
For example, at LiveSession we publish case studies on how product analytics helps companies improve their products and user experience.
Online forums
Another example is online forums. Platforms such as Reddit or Quora can be a great source of real-life examples and case studies.
You can search for topics related to your industry or product and see what insights others have shared.
For instance, look for the "product analytics case studies" phrase on Quora to find discussions on how different companies use data to drive growth.
LinkedIn is a great platform for networking and connecting with other professionals in your industry.
You can search for groups or individuals who specialize in product analytics and see what insights they have to share.
Groups like “Product Management, Marketing & Innovation” or “UX Strategy: Smarter Product Design” can be great starting points.
Product analytics software providers
Many product analytics software providers publish case studies or customer success stories on their websites.
As we already mentioned, we share our customers’ stories that show how LiveSession helps them. This way, people like you can learn from first-hand stories and experiences.
Product analytics conferences
Our examples go beyond the digital sphere. Real life events are amazing as well.
Attending conferences or webinars on product analytics can give you a chance to hear from experts in the field. This way you can learn about interesting case studies.
For example, the Product Analytics Summit is a conference that features talks from industry leaders and provides insights into how companies use data to drive product growth.
Read also:
- Product Analytics Software - Best Product Analytics Tools' Features & More (part II)
- Inside of Product Analytics Tools: Your Product Analytics Dashboards
- Product Analytics Frameworks: The Right Approach to Success
Real-World Product Analysis Examples
As we said above, company blogs and product analytics software providers are great sources for finding valuable examples.
Well, we don’t throw words on the wind.
Let us shift your attention to the main topic of today’s article - product analysis examples.
We want to show you examples of real businesses and how they benefited from engaging with product analysis.
Are you ready?
#1 TalentLyft
The first company we’d love for you to look at is TalentLyft.
Product analysis is essential for any company. TalentLyft is an example better than any of how it can help enhance a product's user experience.
The platform enables small and medium-sized businesses to manage their recruitment processes.
With the help of product analysis, TalentLyft was able to:
- enhance user experience,
- improve support, and
- increase trial-to-paid conversion rates.
To gain valuable insight into users' actual experience with the platform, TalentLyft used LiveSession. We helped them understand their users' journey and behavior.
With LiveSession, they were able to learn that many of their customers were not using filters and needed more clarity on labels.
They also discovered that some customers were not familiar with certain shortcuts or logical operators, and this knowledge enabled them to make important improvements.
By implementing these changes, TalentLyft was able to:
- engage more trial users,
- provide more demo data, and
- improve its job search functionality.
In short, LiveSession helped TalentLyft gain valuable insights into its customers' preferences, and it can do the same for companies looking to improve their products.
Key achievements:
⭐ increasing the trial-to-paid conversion rate by 25.2%
⭐ providing faster and more efficient support
⭐ improving the user experience
⭐ identifying the functionalities that are worth developing in the future
⭐ understanding the comprehension and preferences of customers
⭐ gaining insights into how to make trial users love TalentLyft
“Sometimes, given errors happened only on a certain combination of Operation System and browser If it was not for LiveSession, we would not have been able to replicate the issue.” - Bruno Ilisevic, Product Manager at TalentLyft
Read more here
#2 Databox
Next, you don’t want to miss Databox’s story.
Databox, a company specializing in automated reporting for businesses, recognizes the importance of product analysis in improving the quality of their service.
To identify where users were struggling during the onboarding process, Databox searched for a reliable session replaying software.
After experimenting with various options, they found that LiveSession was the best solution.
We allowed Databox to observe the customer’s journey in their application. As a result, they were provided with insights that were crucial for improving their onboarding experience.
The automated integration of LiveSession with Intercom also helped Databox to compile a prioritized list of flaws in their UX. They did it by observing how customers use their app, starting from those most inconvenient for users.
This approach had a significant impact on Databox's user experience.
With the insights gathered from LiveSession, they were able to increase their activation rate by 25%. What’s more, their conversions from sign-up to paid accounts improved by a staggering 223%.
These impressive results demonstrate the value of product analysis initiatives, and the critical role that LiveSession played in this process.
Databox was able to make informed decisions that ultimately led to the improvement of their service. All thanks to leveraging the power of LiveSession,
Their success is a testament to the importance of engaging with product analysis and session replaying software.
Whether you're a startup or an established business, taking advantage of the benefits offered by LiveSession can help you gain a competitive edge and improve your bottom line.
“We had experimented with several solutions, but we weren’t fully satisfied with them. We needed to find the best-in-class session recording software. LiveSession lives up to our high expectations.” - Gasper Vidovic, Director of Product at Databox
Key achievements:
⭐ identifying potential issues
⭐ prioritizing improvements
⭐ increasing activation rate by 25%
⭐ achieving a bulletproof flow during onboarding
⭐ increasing conversions from signup to paid account by 223%
Read more here
#3 RocketLink
We hope you’re still with us. That’s because we have another exciting example to share with you - RocketLink.
RocketLink is a link shortening tool. It offers the ability to add retargeting pixels to URLs, allowing for smarter PPC ads and increased conversion rates.
CEO and founder Wojtek Jasnos understands the importance of constant product analysis to meet user expectations.
Do you?
RocketLink began using LiveSession to monitor user behavior on their app and website.
We helped them improve user experience and fix bugs by replaying sessions and diagnosing issues.
The team identified common issues. Those were invalid pixel ID formats and incorrect discount code usage.
They also discovered that potential customers were clicking on non-clickable feature cards on their homepage. This led the team to add short feature descriptions.
RocketLink saw significant improvements after using LiveSession.
We let them understand the customer journey, improve their onboarding process, and make their app and website more convenient for users.
“Monitoring how existing users interact with the RocketLink app is not the only benefit of using LiveSession. We can also record sessions on our homepage and all other pages. That allows us to understand what our users do on our website before they sign up.” - Wojciech Jasnos, CEO at RocketLink
Key achievements:
⭐ achieving a 110% increase in sign-ups
⭐ reducing churn rate by 40%
⭐ achieving over a 40% increase in paid subscriptions
Read more here
#4 Plaxonic Technologies
Still hungry for more insights? Let's have a look at Plaxonic Technologies then!
It’s an IT and Business Process Management solutions company.
Since 2013, the company has been committed to consistent improvement and client-centricity.
Plaxonic Technologies believes in "inventing advanced technologies & innovating them further". As a result of their motto, they realized they would be more successful with session tracking software.
So they found us. We let them analyze different sections of the web page separately. What’s more, we provided them with live video recordings that show how visitors interact with the website.
Thanks to us, Plaxonic Technologies can analyze the behavior of users coming from different traffic sources and identify exit points/loopholes on websites.
The information collected through LiveSession includes the number of clicks, new users' data, error clicks, rage clicks, and exit points.
Our insights help Plaxonic Technologies to offer valuable enhancements to its customers, such as recommendations for UX and web design improvements.
Plaxonic Technologies uses LiveSession mainly to help its customers, but the company also benefits from this solution by automating some of the team's work and providing valuable data for decision-making.
“Our recipe for success is to combine years of our experience with ambitious strategies and advanced digital solutions. LiveSession is an example of advanced technology supporting leaders like us.” - Aditya Sharma, CTO of Plaxonic Technologies at Plaxonic
Key achievements:
⭐ saving 25% of time
⭐ increasing the conversion rate by 25%
⭐ detecting the most commonly visited website pages ⭐ acquiring statistical data on visitors and clicks
⭐ identifying the exit points and loopholes on the customer sites
⭐ differentiating organic from paid search traffic
Read more here
#5 RandomCoffee
Our last example to present to you is RandomCoffee.
RandomCoffee is a solution for companies who want to maintain strong bonds between their employees.
By establishing virtual relationships through RandomCoffee campaigns, companies can:
- foster casual interactions among their employees,
- introduce new team members, and
- invite associates to a Virtual Coffee.
RandomCoffee decided to use LiveSession software to track user sessions, segment them, and analyze user activity.
This lets the company make more informed decisions about product improvement.
With a focus on UX design, RandomCoffee used LiveSession to understand user behavior and improve product functionality.
The result? A much more reliable and intuitive application with increased customer satisfaction.
The case of introducing two new features to the solution is an excellent example of a situation where it is known that something is wrong, but it is not known what or why.
By using LiveSession's Inspect Mode functionality, RandomCoffee was able to identify the root cause of the issue. This way, they were able to make the necessary improvements.
Win-win, right?
Overall, RandomCoffee's use of product analysis initiatives, including LiveSession, allowed them to advance through the product lifecycle stages.
By doing so, they created a better product with less effort and made their customers happier.
“LiveSession is an impressive solution for those who believe in never-ending continuous improvement. When you know your product is good, but you want to make it even better, then the LiveSession’s insights are priceless.” - Renaud Dorval, Co-Founder at RandomCoffee
Key achievements:
⭐ saving 25% of time
⭐ increasing the conversion rate by 25%
⭐ detecting the most commonly visited website pages ⭐ acquiring statistical data on visitors and clicks
⭐ identifying the exit points and loopholes on the customer sites
⭐ differentiating organic from paid search traffic
Read more here
Conclusion
That’s it from us for today. Thanks for coming along.
We hope the above examples have proven to you the importance of product analysis.
What do you think after reading them? Are you planning on engaging with product analysis anytime soon?
If you’re considering it, we invite you to give LiveSession a try.
That’s, of course, if you’re feeling like reaping any of the benefits we just mentioned.
Other than that, we hope you enjoyed our 8th (out of 9) articles in the content cluster on product analytics series.
We’ve had lots of fun putting it all together for you to take advantage of it.
Now, let’s get ready for the last and final article.
Whatever you’re thinking it’s about, you’re wrong. So don’t waste time and check it out now. Here .
FAQ
Frequently asked questions about product analytics together with answers.
Why are product analysis examples useful?
Product analysis examples are useful for gaining insights into customer preferences, identifying product demand, making informed product decisions, and creating effective product strategies. They also help in analyzing competitor products and improving the product features.
How can I find product analysis examples?ś
You can find product analysis examples by searching online, looking for industry reports, and examining product reviews. You can also conduct customer surveys and competitor analysis to gain insights into customer preferences and market trends.
How can product analysis help in making product decisions?
Product analysis helps in identifying customer needs, preferences, and pain points. This information helps in making informed product decisions and prioritizing product features. It also helps in evaluating the competition and identifying market opportunities.
How do product teams use product analysis?
Product teams use product analysis to make data-driven decisions, improve the product roadmap, and prioritize product features. It also helps in identifying customer needs and preferences, evaluating the competition, and developing effective product strategies.
Related topics: product production planning process, competitive analysis template, conversion analysis, gap analysis process, competitive market analysis, market gap analysis, product analytics strategy, competitor product analysis, competitive analysis tools, strategic planning for products, customer testimonials, product analytics platforms,
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